HSBC (HSBA) PT Set at GBX 690 by J P Morgan Chase & Co

HSBC (LON:HSBA) has been given a GBX 690 ($9.24) target price by equities research analysts at J P Morgan Chase & Co in a research note issued on Wednesday. The brokerage currently has a “neutral” rating on the financial services provider’s stock. J P Morgan Chase & Co’s price objective would suggest a potential downside of 5.45% from the stock’s previous close.

Several other brokerages have also recently commented on HSBA. Shore Capital reissued a “sell” rating on shares of HSBC in a research report on Monday, October 30th. Royal Bank Of Canada set a GBX 720 ($9.64) price target on shares of HSBC and gave the stock a “neutral” rating in a research report on Friday, November 3rd. Goldman Sachs Group set a GBX 790 ($10.58) price target on shares of HSBC and gave the stock a “neutral” rating in a research report on Friday, August 11th. Barclays reissued an “equal weight” rating and set a GBX 700 ($9.37) price target on shares of HSBC in a research report on Thursday, October 5th. Finally, UBS set a GBX 725 ($9.71) price target on shares of HSBC and gave the stock a “neutral” rating in a research report on Friday, August 18th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of GBX 746.33 ($10.00).

Shares of HSBC (HSBA) traded down GBX 4.20 ($0.06) during midday trading on Wednesday, reaching GBX 729.80 ($9.77). 23,749,494 shares of the company were exchanged, compared to its average volume of 22,760,000. HSBC has a 12-month low of GBX 518.17 ($6.94) and a 12-month high of GBX 772 ($10.34).

In other HSBC news, insider Stuart Thomson Gulliver sold 138,143 shares of the stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of GBX 732 ($9.80), for a total value of £1,011,206.76 ($1,354,234.31). Also, insider Iain Mackay purchased 16,980 shares of the stock in a transaction on Monday, November 13th. The stock was bought at an average cost of GBX 741 ($9.92) per share, for a total transaction of £125,821.80 ($168,503.82). Over the last ninety days, insiders bought 17,058 shares of company stock worth $12,638,772.

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About HSBC

HSBC Holdings plc (HSBC) is the banking and financial services company. The Company manages its products and services through four businesses: Retail Banking and Wealth Management (RBWM), Commercial Banking (CMB), Global Banking and Markets (GB&M), and Global Private Banking (GPB). It operates across various geographical regions, which include Europe, Asia, Middle East and North Africa, North America and Latin America.